For Immediate Release
Chicago, IL – March 16, 2010 – Zacks highlights commentary from People and Picks Trader “MightyMo”.
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MO’S TWIT: PRAA
Portfolio Recovery Association, Inc. (PRAA) is a stock I normally don’t follow. However I’m looking into (testing) what I call ‘special situation’ stocks.
PRAA hit bottom about a year ago but since that time has been in steady uptrend mode. The stock had a breakout and gap’d up in mid-february and has continued to climb. The stock was around 44 when it broke out mid-feb and gap’d up to 50. However it has continued to go up and is now at 56.75.
There is currently a short interest ratio of 10.1. In otherwords, it will take 10.1 days for shorts to cover their positions given a short squeeze. It might have already started. The short percent to float is a high 26%.
Again this is what I call a ‘special situation’ stock and a speculative ‘short term’ quick and out play.
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